June 25, 2012
/PRNewswire/ -- S.A.V.E. Partners IV, LLC, which together with its nominees and certain other shareholders are members of a group ("SAVE") that collectively owns 3,196,739 shares of common stock of
Technologies, Inc. (NASDAQ: USAT) ("USAT" or the "Company"), representing approximately 9.8% of the Company's outstanding shares, today issued the following release:
James W. Stuckert
today endorsed Shareholder Advocates for Value Enhancement's seven highly-qualified director nominees for the USAT Board on the
Proxy Card. Mr. Stuckert, together with his wife, beneficially owns 512,000 shares of common stock of USAT and is a member of the SAVE group.
In a statement issued today Mr. Stuckert, said, "I've spent my career investing in companies that I believe have the potential to generate significant value for clients. Under the right leadership and with a well-balanced, engaged board of directors, it is my opinion that USAT can become such a company." Mr. Stuckert continued, "USAT has failed to convince me that its most recent financial results provide evidence that USAT is performing well — in my view, revenues and connections need to translate into profits. Furthermore, I believe USAT's current business plan offers nothing new to shareholders and fails to address the fundamental concerns I have about managing hardware costs, improving vending route management services and upgrading technologies. In my view, the status quo can no longer be maintained and change is urgently needed. I fully endorse the election of SAVE's seven highly-qualified director nominees because I firmly believe it is in the best interest of the Company and its shareholders."
About James W. Stuckert
Mr. Stuckert serves on the board of directors of
, Inc. (NASDAQ: RGLD), a precious metals royalty company with a current market value of over
. He is currently the Chairman of the
University of Kentucky
Development Council and is national Chairperson of the University's
comprehensive fund-raising campaign.
SOURCE S.A.V.E. Partners IV, LLC